Industrial Bank of Korea (024110) made ₩1.9 billion of additional loans after reporting a fraud case. Dailian reported the transactions on Wednesday.
The broader alleged real-estate loan fraud involved ₩18.2 billion. Police sent IBK a search warrant and cooperation request on September 24 last year. The bank reportedly did not identify the incident as a financial accident for one week. It later reported the case to regulators but executed more related loans afterward.
A lawmaker obtained the information from IBK and the Financial Supervisory Service. The company's market capitalisation was ₩16.4 trillion at Wednesday's close.
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| Symbol | Last Price |
|---|---|
| 024110Industrial Bank of Korea | ₩20,600 -1.0% |